Scammers Target WazirX Users with False Promises of Recovery Aid: Scam Alert

The WazirX executive warned people to stay away from anyone claiming to be from WazirX or any WazirX official, offering fund recovery or making any similar promises.

As we have already reported, the WazirX exchange is currently on the verge of filing for bankruptcy because it lost $230 million worth of cryptocurrencies one month ago. So far, the exchange’s team has failed to reach any precise and clear decision to compensate WazirX customers. A day ago, the WazirX CEO claimed that the exchange is still in a stable situation, so it will not file for bankruptcy but will go with a restructuring plan.

https://t.co/WYndwQUcFN#WazirX CEO confirms WazirX will not adopt #bankruptcy method to compensate customers

— Bitcoinik (@Bitcoinikdotcom) August 24, 2024

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On August 25, 2024, Nischal Shetty, the CEO of WazirX Crypto Exchange, said that some scammers are exploiting the situation with WazirX by falsely claiming they can assist with compensation for affected users. These fraudsters are pretending to be affiliated with WazirX, although their claims are entirely false. They aim to mislead and silence those advocating for a prompt resolution to the platform’s issues. With WazirX having suspended all fund withdrawals, it’s crucial to stay vigilant and avoid engaging with any unauthorized or suspicious entities promising compensation.

Another new trend to be careful about.

If someone is supporting the prompt resolution then these fake accounts are targeting and stating they are WazirX accounts which is not true at all.

They’re trying to silence the smart voices who understand that this structuring is the…

— Nischal (Shardeum) (@NischalShetty) August 25, 2024

In response, many WazirX customers alleged that WazirX is only using various excuses to divert attention from the real issues.

One crypto X user said that the WazirX CEO is acting irresponsibly and blaming the crypto custody service provider as a responsible agent behind the hacking incident, instead of doing anything beneficial for customers’ demands.

Another crypto X user alleged that WazirX has always misled customers by claiming to be an Indian exchange, while in reality, they were providing services as a Singapore-based firm. Such bitter things are likely to cause significant delays in fund recovery.

lol don’t teach law to us. It’s an Indian exchange and legal dispute resolution is opted in Singapore when both parties don’t come in to consensus together.

That’s why telling @NischalShetty don’t play games with loopholes of law and enable withdrawals along with…

— VIKRAM- THE GAMECHANGER (@gamechanger0078) August 25, 2024

Read also: WazirX CEO Nischal Shetty Responds to Criticism, Accuses Influencers and Media of Spreading Misleading Information for Clicks

Scammers Target WazirX Users with False Promises of Recovery Aid: Scam Alert

 

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